Encora recently acquired global technology solutions and services company, Excellarate in an effort to leverage its AI, analytics and automation abilities, a press release reported.
"Excellarate has a long history serving a wide range of fast-growing clients in HealthTech, FinTech and InsurTech and we are thrilled to welcome them to the Encora family," founder and CEO, Encora, Venu Raghavan, said. "Nick Sharma and his team will provide valuable expertise and capabilities to strengthen our customer offerings and further our mission of becoming the leading global engineering solutions provider."
The addition will also add onto Encora’s HealthTech, FinTech and InsurTech expertise and leverage its global talent slate of more than 9,000 engineers. The company has garnered a team of more than 7,600 associates in 40 offices based across the U.S., Canada, Mexico, Costa Rica, Colombia, Bolivia, Peru, Brazil, India and Asia Pacific. Excellarate counts with the support of more than 1,300 engineers.
"Excellarate is honored to join a company with a reputation for delivering high-quality, industry leading digital solutions to customers in many different high-growth industries around the world," said Nick Sharma, CEO, Excellarate. "Venu, the leadership team, and all those we have met at Encora have welcomed us with open arms. We see this acquisition as a tremendous fit culturally and feel that our capabilities will provide critical value to Encora's current and future customers."
The acquisition forms part of Encora’s effort to grow its international presence. Other expansion efforts made by the company include the Acquisitions of Daitain, Avantica, Nearsoft and Söoryen Technologies, based in Latin America and India.
"Frontenac is proud to have collaborated with the Excellarate team, supporting its exceptional growth over the last three years," said Joseph Rondinelli, managing director of Frontenac. "The company is well-positioned for continued growth in this dynamic market, and we look forward to following its progress and accomplishments in the future under new ownership and leadership from Encora."